(Yicai Global) March 11 -- Investment worth over CNY27.6 billion (USD4 billion), mostly in strategic emerging sector projects, has been lined up for one of Shanghai's suburban districts.

Jiading, one of the districts tasked with building the city into a science and innovation hub, is set to become home to 105 such projects following a slew of deals signed today, Xinhua News Agency reported. The agreements were inked online due to the Covid-19 epidemic.

It is the second centralized signing after deals on 98 projects with an investment value of CNY34 billion were signed with Jiading on Jan. 4, according to media reports.

Nearly 70 percent of the latest agreed are related to integrated circuits, the Internet of Things, new energy vehicles and automotive intelligence, high-performance medical equipment, precision medicine as well as smart manufacturing and robotics.

Among the projects are Carcoustics China's automotive intelligence research and development center, China Unitechs' artificial intelligence and industrial internet project and Shanghai GenCells Therapeutics.

In Jiading, Shanghai is building an auto industry cluster worth at least CNY1 trillion (USD143.9 billion) and promoting the development of two emerging industries, IC and IoT plus high-performance medical equipment and precision medicine.

According to the development goals for various industries, the total output value of Jiading's auto industry is set to top CNY500 billion by the end of 2020, while that of IC and its supporting industries should exceed CNY20 billion.

The high performance medical equipment and precision medicine sector should be worth more than CNY28 billion, while the figure for the smart manufacturing and robot industry and its supporting industries is tipped at CNY15 billion.

Editor: Peter Thomas